We last covered NovaGold Resources (NG) way back on October 22. Gold prices had a modest rally before giving it all back, and some more, but NG is bumping up near the top of its range and could break out to new 52-week highs.
In this two-year daily chart of NG, above, we can see the numerous attempts to push through the $4.00 to $4.50 area. Currently the 50-day and 200-day moving averages are edging higher and the broad picture of the On-Balance-Volume (OBV) line is positive. While it would be better if gold can stage a rally too, it still looks like NG will break out independently with a close above $4.30.